| Castle Marinas Limited |
| Registered number: |
05686351 |
| Abbreviated Balance Sheet |
| as at 30 September 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
3,053 |
|
|
6,001 |
| Investments |
3 |
|
|
16,708,575 |
|
|
16,708,575 |
|
|
|
|
16,711,628 |
|
|
16,714,576 |
|
| Current assets |
| Debtors |
4 |
|
6,146,923 |
|
|
7,293,616 |
| Cash at bank and in hand |
|
|
33,681 |
|
|
13,097 |
|
|
|
6,180,604 |
|
|
7,306,713 |
|
| Creditors: amounts falling due within one year |
|
|
(2,729,102) |
|
|
(1,460,751) |
|
| Net current assets |
|
|
|
3,451,502 |
|
|
5,845,962 |
|
| Total assets less current liabilities |
|
|
|
20,163,130 |
|
|
22,560,538 |
|
|
|
|
|
|
|
|
| Creditors: amounts falling due after more than one year |
|
|
|
27,017,853 |
|
|
37,668,844 |
|
|
|
| Capital and reserves |
| Called up share capital |
6 |
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
(6,855,723) |
|
|
(15,109,306) |
|
| Shareholders' funds |
|
|
|
(6,854,723) |
|
|
(15,108,306) |
|
|
|
|
|
20,163,130 |
|
|
22,560,538 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| RJ Smith |
| Director |
| Approved by the board on 24 June 2016 |
|
| Castle Marinas Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 September 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Going concern |
|
The directors consider the company to be a going concern as it has the support of its ultimate controlling party who have confirmed its loan is not due for repayment within 12 months from the approval date of these financial statements, in accordance with the loan agreement. It also has the continued support of its bankers following a new bank loan agreement signed in December 2013. |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Furniture and fittings |
20% straight line |
|
Office equipment |
33% straight line |
|
|
Group accounts |
|
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a smallsized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
|
|
Taxation |
|
The charge for taxation is based on the profit for the year and takes into account taxation deferred.
Current tax is measured at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that the company anticipates making sufficient taxable profits in the future to absorb the reversal of the underlying timing differences. Deferred tax balances are not discounted. |
|
|
Valuation of investments |
|
Investments held as fixed assets are stated at cost less any provision for impairment. Investments held as current assets are stated at the lower of cost and net realisable value. |
|
|
Finance costs |
|
Finance costs associated with the issue of debt are carried forward and charged to profit over the term of the debt so that the amount charged is at a constant rate on the carrying amount. |
|
|
| 1 |
Accounting policies (continued) |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2014 |
25,353 |
|
Disposals |
(18,222) |
|
At 30 September 2015 |
7,131 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2014 |
19,352 |
|
Charge for the year |
2,948 |
|
On disposals |
(18,222) |
|
At 30 September 2015 |
4,078 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2015 |
3,053 |
|
At 30 September 2014 |
6,001 |
|
|
|
|
|
|
|
|
| 3 |
Investments |
£ |
|
|
Cost |
|
At 1 October 2014 |
16,708,575 |
|
|
At 30 September 2015 |
16,708,575 |
|
|
|
|
|
|
|
|
The company holds 20% or more of the share capital of the following companies: |
|
| 3 |
Investments (continued) |
|
|
|
Country of |
Proportion |
|
|
incorporation |
Class of |
of share |
|
|
or |
share |
capital |
Nature of |
|
Company |
registration |
capital held |
held |
business |
|
Nottingham Castle Marina Limited |
England and Wales |
|
Ordinary |
|
100% |
|
Boating marina |
|
Buckden Marina Limited |
England and Wales |
|
Ordinary |
|
100% |
|
Boating marina |
|
Wigrams Turn Marina Limited |
England and Wales |
|
Ordinary |
|
100% |
|
Boating marina |
|
Kings Bromley Marina Limited |
England and Wales |
|
Ordinary |
|
100% |
|
Boating marina |
|
Birdham Pool Limited |
England and Wales |
|
Ordinary |
|
100% |
|
Boating marina |
|
Ventnor Farm Marina Limited |
England and Wales |
|
Ordinary |
|
100% |
|
Boating marina |
|
Clarence Marina Limited |
England and Wales |
|
Ordinary |
|
100% |
|
Boating marina |
|
|
Unless otherwise stated, the following figures have been extracted from audited financial statements for the year ended 30 September 2015: |
|
|
|
|
Aggregate share capital and reserves |
|
Profit/(loss) for the year |
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
|
£ |
|
£ |
|
£ |
|
£ |
|
Subsidiary undertakings |
|
Nottingham Castle Marina Limited |
1,120,246 |
|
398,165 |
|
722,081 |
|
(57,686) |
|
Buckden Marina Limited |
(1,097,319) |
|
(1,161,397) |
|
64,078 |
|
(150,895) |
|
Wigrams Turn Marina Limited |
2,278,370 |
|
2,312,304 |
|
(33,934) |
|
(20,684) |
|
Kings Bromley Marina Limited |
2,616,964 |
|
(1,339,511) |
|
125,367 |
|
(319,835) |
|
Birdham Pool Limited |
1,814,513 |
|
394,797 |
|
1,419,716 |
|
(83,393) |
|
Ventnor Farm Marina Limited |
(3,115,254) |
|
(3,218,157) |
|
102,903 |
|
(272,500) |
|
Clarence Marina Limited |
3,733,336 |
|
3,597,975 |
|
135,361 |
|
148,618 |
|
| 4 |
Debtors |
2015 |
|
2014 |
| £ |
£ |
|
Debtors include: |
|
|
Amounts due after more than one year |
6,663,563 |
|
7,229,261 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Loans |
2015 |
|
2014 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
17,900,000 |
|
17,900,000 |
|
Secured bank loans |
20,150,000 |
|
20,600,000 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
A Ordinary shares |
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
